More suburbs in Sydney’s west join million dollar median house price club as growth continues

MILLION-DOLLAR house prices have become the new norm for the Greater Parramatta area after yet another year of runaway house price growth. Find out the median house price in your suburb.

John Yeaman and his wife Annmaree and daughters Emily and Molly pictured putting the finishing touches on their Carlingford home which is on the market. Picture: Toby Zerna

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MILLION-DOLLAR house prices have become the new norm for the Greater Parramatta area after yet another year of runaway house price growth.

Median house prices in nine of the region’s suburbs crossed into million-dollar territory for the first time over the past year.

And two suburbs are on the brink of crossing into seven-figure territory, Core Logic data shows.

Suburbs that became millionaire’s rows included Ermington, Northmead, Dundas, Rydalmere and the Parramatta CBD. In nearby Holroyd council, Westmead joined the million dollar club.

Many of the properties sold for more than $1 million in these areas were fibro and weatherboard homes built in the 1950s and ’60s.

One year ago, the only suburb in the Parramatta area with a million-dollar median was Epping.

It now has an average house price of $1.72 million.

After watching the market for some time John Yeaman and his wife Annmaree can’t believe how much prices have risen. Picture: Toby Zerna

Further north, Cattai, Kellyville and Baulkham Hills joined Castle Hill and Bella Vista among suburbs in the Hills with $1 million medians.

Real estate analysts say the recent price hikes in Parramatta and the Hills are the result of a new group of house hunters streaming into the area to capitalise on improving transport infrastructure.

Many buyers were priced out of Sydney’s inner ring suburbs and moved westward to get more bang for their buck.

McGrath-Parramatta agent Sandra Aquilina says house hunters realise the area is becoming a more viable place to live. “Families have always liked this part of Sydney because of the block sizes, but more people now want to live in the area because of the new train line,” Ms Aquilina said.

This home in Alma St, Parramatta, sold for $1.03 million in February.

The owners of this Hartland St, Northmead, home sold for $1 million.

Much of the impetus for recent growth was in the last three months, Core Logic head of research Tim Lawless said. “There has recently been renewed heat in the Sydney (market),” Mr Lawless said.

Buyers have been competing for a thinning ­supply of available properties, often pushing up prices in the process, he added.

Carlingford resident John Yeaman is selling his home and after observing the market for some time says prices in Parramatta and northwest Sydney are hard to believe.

“Prices have probably doubled in the last seven years,” Mr Yeaman said. “A lot more people are coming into the area.’’

Ermington is another suburb which has exploded in recent years. This house in Broadoaks St sold in December for $1.28 million.

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